Penang Adds 1,133 Homes to Rent-to-Own Scheme, Lifting State Total to 13,277

Key figures

• ●Penang added 1,133 homes across five projects to its rent-to-own programme, with RM49.26 million allocated this year
• ●Largest allocation: 640 units at Pangsapuri Pinang Setia in Setia Fontaines, Bertam, Kepala Batas, targeted for completion in 2029
• ●RTO monthly payments start from RM250 over 15 years
• ●State RTO total now 13,277 units, about 60% of the 22,000-unit target by 2030
• ●Rumah MutiaraKu programme has reached 176,457 units, or 80.2% of the 220,000-unit target by 2030

News summary

Penang has added 1,133 homes across five projects to its rent-to-own (RTO) programme, using RM49.26 million allocated this year from a state trust fund, according to EdgeProp Malaysia. State housing and environment committee chairman Datuk Seri S. Sundarajoo said the units were acquired through the Penang Housing Board (LPNPP) for households that are able to make monthly housing payments but face difficulty obtaining conventional bank financing.

The additions are spread across five projects: 187 units at Mak Mandin Indah and 144 at Vista Perdana, both in Butterworth; 107 at Pekatra Indah in Simpang Ampat; and 55 at Harmoni Vista in Teluk Kumbar, EdgeProp Malaysia reported, citing a Facebook post by Sundarajoo. The largest share — 640 units, more than half the tranche — is at Pangsapuri Pinang Setia in S P Setia Bhd's Setia Fontaines township in Bertam, Kepala Batas, with completion targeted for 2029, according to Penang Property Talk. Under the scheme, eligible applicants rent the homes before obtaining a pathway to ownership, with monthly payments starting from RM250 over 15 years, subject to each project's terms.

The latest tranche brings the number of RTO homes under the state programme to 13,277, or about 60% of its target of 22,000 units by 2030. Bernama reported in April that the target was set under Penang2030's Strategic Initiative A1, which focuses on housing affordability and diversity, EdgeProp Malaysia noted. Separately, the state's Rumah MutiaraKu (RMKu) programme has reached 176,457 units, or 80.2% of the state's 220,000-unit target by 2030, Penang Property Talk and The Vibes reported; The Vibes put the figure at 80.21%.

"Providing housing is not merely about how many homes we build. More importantly, it is about how many people ultimately get the opportunity to own a home they can call their own," Sundarajoo said in his Facebook post, as quoted by EdgeProp Malaysia and Penang Property Talk. He said the state would continue to pursue more flexible and inclusive housing approaches that take into account the financial capabilities of Penang residents.

The Vibes reported the same figures from the same briefing, at which Sundarajoo defended the state's handling of the Taman Manggis transit housing scheme, where more than 100 tenants were on an eviction list after breaching state housing board rules. He said genuine hardship cases had been granted extensions and that some affected tenants had been offered rent-to-own options, and rejected suggestions that the state had been heavy-handed, saying units could not be occupied indefinitely while more than 1,000 applicants remained on the waiting list. The Vibes also reported that the state's affordable housing units are priced between RM42,000 and RM300,000.

This summary draws on EdgeProp Malaysia, Penang Property Talk, The Vibes and PenangToday.